RelayChain Proposal

RelayChain: Blockchains Unleashed

Relaychain is a portal between blockchains that facilitates cross chain token transfers between a dozen of the world’s leading EVM blockchains. The innovative bridge has been securely transporting user funds since February 2021. Relay is a faithful partner to Metis and has successfully bridged tens of millions in dollar value to the network in cooperation with multiple ecosystem partners. In the upcoming v2 iteration, the bridge will quickly integrate non-EVM blockchains, introduce a bridge user lottery, offer partner rewards for liquidity, token purchases, and begin the release of the Battle of the Blockchains game.

BLOCKCHAINS CONNECTED

Current

Ehrereum, Avalanche, BSC, Polygon, Metis, Moonriver, Moonbeam, IoTeX, Shiden, MultiVAC, HECO and Harmony

Upcoming

Arbitrum, Optimism, ZK sync, Starknet, Near, Cosmos and Solana

METIS ECOSYSTEM PARTNERS:

-Netswap
-Tethys
-Maia DAO
-Hummus
-Dexpools

BRIDGE DESIGN:

The original architecture of the bridge utilized smart contracts and relayers to complete the bridging process. The v2 design will achieve bridging throughthough the use of “sends” and “listeners.” The result is a faster, more secure, and less expensive bridging process.

The bridge is capable of transferring tokens with two mechanisms: #1 liquidity bridging #2and mint/burn functions.

The bridge will handle stables and major coin bridging, but any smaller project token can be quickly added for a small fee.

Liquidity Rewards, veRELAY and RELAY Token Utility

With the new v2 bridge, stablecoin and major token (ETH, wBTC) liquidity will be community provided. Users will deposit their tokens to the bridge and earn yield on those deposits. Users will also be able to stake RELAY to accumulate veRELAY. The veRELAY will boost the earned yield.

The RELAY token is at the center of the project and holds multiple utilities that will reward users: Earn veRELAY, stake to earn a portion of bridge revenues, buybacks/burns, and also utility within the BOTB game.

Unique Features

V1 Gas token drop. If a user bridges with a “virgin” wallet that has never used the destination blockchain, they will receive enough of the native gas token to complete their first fee transactions. This avoids users becoming “stranded” on a new chain.

V2 Bridging is a critical component of blockchain interoperability. While it is a pleasant experience, it’s not inherently a “fun” experience. RelayChain plans to change this by adding a few features.

-The first will be a lottery/ jackpot component, where using the bridge will give an entry for a random prize drawing.
-The other entertaining activity will be the community developed P2E game, Battle of the Blockchains.
-Purchase gas token on destination chain
-Token dashboard showing all bridgeable assets in an easily viewable format
-Easy to use SDK for partner integration
-Semi-Automated token onboarding

ROADMAP:

Early Q3 2022

-Launch full version of the v2 bridge
-Initiate veRELAY liquidity rewards structure, beginning with Metis
-Website can update
-Integrate new L2 chains
-Announce new major partner on Metis

Mid Q3 2022

-Initiate bridge lottery
-Integrate non EVM chains

Late Q3 2022

-Add “purchase gas” for destination chain feature
-Expand partner liquidity reward offerings

Q4 2022

-Integrate BotB game features
-Continue to add L2 networks

LINKS:

https://www.relaychain.com

Whitepaper

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